Quartix Holdings PLC Trading Update (8039J)
July 03 2017 - 2:00AM
UK Regulatory
TIDMQTX
RNS Number : 8039J
Quartix Holdings PLC
03 July 2017
3 July 2017
Quartix Holdings plc
("Quartix" or the "Company")
Trading Update
Quartix Holdings plc, a leading supplier of subscription-based
vehicle tracking systems, software and services in the UK, reports
that it will publish interim results for the six-month period ended
30 June 2017 on Wednesday 26 July 2017. They will be posted on the
Company's website the same day, together with accompanying
presentations.
The Company is pleased to report that trading to date has been
in line with management's expectations and consistent with
achieving market expectations for the year as a whole.
Andy Walters, Managing Director, commented:
"We have made good progress in all fleet markets. New
installations of tracking systems grew by 44% to 14,300 vehicles
and we ended the period with more than 10,000 fleet customers and
over 97,000 active vehicle subscriptions. New UK installations grew
by 44% to 10,450, increasing the subscription base to 78,000
vehicles; in France they rose by 30% to 1760 vehicles, reaching a
closing base of over 11,400; and in the USA they increased by 60%
to 2,090, lifting the base to 7,700 vehicles."
"Following the decision taken last year to concentrate
management time on our core fleet business and to focus on only
those insurance opportunities which deliver adequate returns,
insurance installations decreased by 35% compared to 2016. We are
pleased with progress made in this transition and Group gross
margin for the period is expected to have been broadly in line with
last year."
"We will continue to invest in our fleet business in the second
half and only add back insurance volume where our quality of
service and product innovation mean that we can command attractive
margins."
For further information, please contact:
Quartix (www.quartix.net)
Andy Walters, Managing Director
David Bridge, Finance Director 01686 806 663
finnCap (Nominated Adviser
and Broker)
Matt Goode /Scott Mathieson
(Corporate Finance)
Stephen Norcross (Corporate
Broking) 020 7220 0500
END
This information is provided by RNS
The company news service from the London Stock Exchange
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